Welcome!

News Feed Item

WestSummit Capital Announces $325 Million in Funding From Major Global Institutions

China Value Creation Platform Connects China With Technology Leaders in North America and Europe

MENLO PARK, CA and BEIJING, CHINA -- (Marketwired) -- 01/17/14 -- WestSummit Capital ("WSC"), a leading China-based, global growth capital investor, today announced that it has raised $325 million in capital commitments from several large institutional investors in Europe, North America and Asia, among others. The funds comprise of $225 million for WestSummit's Fund II, focused primarily on investments in North America and China, and $100 million for Summit Bridge Capital focused mainly on investments in Europe and China and managed in collaboration with European growth capital firm Atlantic Bridge. WSC's Fund II exceeds the size of the firm's Fund I by over three times.

"Technology innovation knows no borders, and we are excited to serve as a value-added partner to connect the China market with leading technologies from around the globe," said Raymond Yang, Managing Partner of WestSummit Capital.

Founded in partnership with the most prestigious financial institution in China, WestSummit Capital operates as one of the only technology growth equity firms investing between China, North America and Europe. WestSummit brings together Managing Partners Raymond Yang and Dr. Datong Chen, both highly successful technology executives who created over $2.5 billion in equity value by leading three companies -- two based in Shanghai and one based in Silicon Valley -- from inception/early stage through their IPO on the NASDAQ stock exchange.

Based on the firm's deep operating experience in China and Silicon Valley, WestSummit has built a reputation as a proven, value-added and hands-on strategic partner for China Value Creation ("CVC"). To further enhance WestSummit's CVC activities, the firm has hired a dedicated team of former operating executives with deep industry expertise in the firm's focus areas.

"WestSummit has the operational know-how and local connections to demystify the massive and complex China market, develop a strategy for market entry into China, and support a successful launch with tangible results," said David Helgason, CEO of Unity Technologies. "Unity's second largest user community is in China, and WestSummit was instrumental in growing our in-country team from nil to over 30 professionals while achieving rapid revenue growth and profitability since day one."

"WestSummit brought the global perspective, connections and capital to take GigaDevice to the next level," said Yiming Zhu, CEO of GigaDevice. "They worked with us to identify mobile as a major new vertical and define the strategy, and helped to introduce to us the top mobile platform partners that have significant influence in this industry. Since launching in mobile with WestSummit, we have achieved 500% growth in our total company revenues. WestSummit has been a game-changer for us."

With Fund II, WestSummit Capital continues its strategy of making growth stage investments of $5 to $15 million into leading companies in the Internet & Digital Media, SaaS & Cloud Computing, Mobile and IT-enabled Clean Tech sectors. Current investments in Fund II include Unity, Twitch, Mirantis, Verisilicon, and Union Optech.

More information about the Summit Bridge Capital can be found here:
http://www.summitbridgecapital.com/SummitBridge_Press_Release_17_Jan_14.docx
http://www.nprf.ie/Publications/2014/ChinaIrelandTechFund17Jan2014.pdf

About WestSummit Capital

WestSummit Capital (www.westsummitcap.com) is a premier China-based, global growth stage technology investment firm. WestSummit invests in the Internet, mobile, cloud computing and IT-enabled clean tech sectors with a focus on rapidly growing enterprises that have a substantial presence in or a strategic interest in China. Sponsored by major financial institutions in Asia, Europe and North America, WestSummit closely partners with leading companies across the globe to realize the full potential of developing their businesses in Greater China. WestSummit operates from offices in Beijing, Silicon Valley and Hong Kong.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
In his session at @ThingsExpo, Eric Lachapelle, CEO of the Professional Evaluation and Certification Board (PECB), provided an overview of various initiatives to certify the security of connected devices and future trends in ensuring public trust of IoT. Eric Lachapelle is the Chief Executive Officer of the Professional Evaluation and Certification Board (PECB), an international certification body. His role is to help companies and individuals to achieve professional, accredited and worldwide re...
Five years ago development was seen as a dead-end career, now it’s anything but – with an explosion in mobile and IoT initiatives increasing the demand for skilled engineers. But apart from having a ready supply of great coders, what constitutes true ‘DevOps Royalty’? It’ll be the ability to craft resilient architectures, supportability, security everywhere across the software lifecycle. In his keynote at @DevOpsSummit at 20th Cloud Expo, Jeffrey Scheaffer, GM and SVP, Continuous Delivery Busine...
SYS-CON Events announced today that TechTarget has been named “Media Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. TechTarget storage websites are the best online information resource for news, tips and expert advice for the storage, backup and disaster recovery markets.
The current age of digital transformation means that IT organizations must adapt their toolset to cover all digital experiences, beyond just the end users’. Today’s businesses can no longer focus solely on the digital interactions they manage with employees or customers; they must now contend with non-traditional factors. Whether it's the power of brand to make or break a company, the need to monitor across all locations 24/7, or the ability to proactively resolve issues, companies must adapt to...
You know you need the cloud, but you’re hesitant to simply dump everything at Amazon since you know that not all workloads are suitable for cloud. You know that you want the kind of ease of use and scalability that you get with public cloud, but your applications are architected in a way that makes the public cloud a non-starter. You’re looking at private cloud solutions based on hyperconverged infrastructure, but you’re concerned with the limits inherent in those technologies.
"Loom is applying artificial intelligence and machine learning into the entire log analysis process, from start to finish and at the end you will get a human touch,” explained Sabo Taylor Diab, Vice President, Marketing at Loom Systems, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
@DevOpsSummit at Cloud Expo taking place Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center, Santa Clara, CA, is co-located with the 21st International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is ...
SYS-CON Events announced today that Datanami has been named “Media Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Datanami is a communication channel dedicated to providing insight, analysis and up-to-the-minute information about emerging trends and solutions in Big Data. The publication sheds light on all cutting-edge technologies including networking, storage and applications, and the...
After more than five years of DevOps, definitions are evolving, boundaries are expanding, ‘unicorns’ are no longer rare, enterprises are on board, and pundits are moving on. Can we now look at an evolution of DevOps? Should we? Is the foundation of DevOps ‘done’, or is there still too much left to do? What is mature, and what is still missing? What does the next 5 years of DevOps look like? In this Power Panel at DevOps Summit, moderated by DevOps Summit Conference Chair Andi Mann, panelists loo...
SYS-CON Events announced today that EnterpriseTech has been named “Media Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. EnterpriseTech is a professional resource for news and intelligence covering the migration of high-end technologies into the enterprise and business-IT industry, with a special focus on high-tech solutions in new product development, workload management, increased effi...
For organizations that have amassed large sums of software complexity, taking a microservices approach is the first step toward DevOps and continuous improvement / development. Integrating system-level analysis with microservices makes it easier to change and add functionality to applications at any time without the increase of risk. Before you start big transformation projects or a cloud migration, make sure these changes won’t take down your entire organization.
Cloud promises the agility required by today’s digital businesses. As organizations adopt cloud based infrastructures and services, their IT resources become increasingly dynamic and hybrid in nature. Managing these require modern IT operations and tools. In his session at 20th Cloud Expo, Raj Sundaram, Senior Principal Product Manager at CA Technologies, will discuss how to modernize your IT operations in order to proactively manage your hybrid cloud and IT environments. He will be sharing bes...
A look across the tech landscape at the disruptive technologies that are increasing in prominence and speculate as to which will be most impactful for communications – namely, AI and Cloud Computing. In his session at 20th Cloud Expo, Curtis Peterson, VP of Operations at RingCentral, highlighted the current challenges of these transformative technologies and shared strategies for preparing your organization for these changes. This “view from the top” outlined the latest trends and developments i...
Automation is enabling enterprises to design, deploy, and manage more complex, hybrid cloud environments. Yet the people who manage these environments must be trained in and understanding these environments better than ever before. A new era of analytics and cognitive computing is adding intelligence, but also more complexity, to these cloud environments. How smart is your cloud? How smart should it be? In this power panel at 20th Cloud Expo, moderated by Conference Chair Roger Strukhoff, paneli...
SYS-CON Events announced today that MobiDev, a client-oriented software development company, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software company that develops and delivers turn-key mobile apps, websites, web services, and complex software systems for startups and enterprises. Since 2009 it has grown from a small group of passionate engineers and business...